5 Feb 2009
CHONG HING BANK LTD v. PERFECTA DYEING, PRINTING & WEAVING WORKS LTD AND OTHERS
- Citation
- CHONG HING BANK LTD v. PERFECTA DYEING, PRINTING & WEAVING WORKS LTD AND OTHERS
- Court
- Court of First Instance
- Case number
- HCA956/2008
There were no triable issues: the Defendants never challenged the quantum prior to the hearing and the bank's officer's sworn calculation is conclusive absent manifest error; the 2 May 2008 email unambiguously deferred only the first instalment and the bank retained an overriding right to demand repayment under the On Demand clause, justifying acceleration when the second instalment was not paid; the Deed of Guarantee remained in force and had not been validly discharged, so summary judgment against the principal and guarantors was correctly entered and must be affirmed.